The Rotterdam-based trader will invest 200 million euros ($234 million) into offshore and onshore wind farms through its VLC Renewables arm, run by a joint venture together with Low Carbon Ltd. The company is planning to buy minority stakes in projects, working with developers and financial investors.
"We see that challenge that is facing electricity markets and we are also evolving our business model to adapt to this future," Simon Hale, investment director at Vitol, said in an interview. "We’re trying to create a platform of scale and we think offshore wind is the best means to achieve that."
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